Solar PV Mounting Systems Market Strategies and Forecast Till, 2024-2032

Solar PV Mounting Systems Market Valuation – 2024-2031

The growing global emphasis on renewable energy, as well as the increasing utilization of solar photovoltaic systems, are significant forces fueling the Solar PV Mounting Systems Market. According to the analyst from Market Research, the Solar PV Mounting Systems Market is estimated to reach a valuation of USD 24.18 Billion over the forecast period 2031, subjugating around USD 13.46 Billion valued in 2023.

The Solar PV Mounting Systems Market is also being driven by factors such as falling solar energy technology costs, government efforts supporting clean energy usage, and increased consumer and company awareness of environmental sustainability. It enables the market to grow at a CAGR of 7.6% from 2024 to 2031.

Solar PV Mounting Systems Market: Definition/ Overview

Solar PV mounting systems are structures or frameworks designed to firmly hold photovoltaic (PV) panels in place, allowing them to be installed on a variety of surfaces, including rooftops, ground areas, and even floating platforms. These systems are critical in guaranteeing the stability, efficiency, and lifetime of solar PV installations by supporting and orienting the panels so that they capture sunlight effectively.

Furthermore, solar PV mounting systems are widely used in the residential, commercial, and industrial sectors, allowing the deployment of solar energy systems for electricity generation. These mounting methods, whether on residential rooftops, carports in parking lots, or enormous solar farms in open fields, are critical for successfully and sustainably harnessing solar energy.

Will Demand for Renewable Energy Sources Fare Well for Solar PV Mounting Systems Market?

The global drive for renewable energy sources to combat climate change and reduce reliance on fossil fuels has boosted demand for solar PV systems. Tax breaks, feed-in tariffs, and subsidies are among the measures that governments around the world are putting in place to encourage people to use solar energy. This, in turn, increases the demand for efficient and dependable mounting solutions, which are essential for installing solar panels.

Solar panel and mounting system technology have advanced, making solar systems more efficient, cost-effective, and adaptable to a wide range of conditions and surfaces. Advancements in mounting materials, such as aluminum and stainless steel, provide robustness and endurance, lowering maintenance costs and increasing the appeal of solar PV systems for both residential and commercial applications.

Furthermore, the cost of solar PV systems has constantly decreased over time due to technological advancements and increased manufacturing scale. This cost reduction makes solar energy more accessible and affordable to a wider range of consumers and companies, increasing demand for mounting systems, which are a key component of solar installations. Economies of scale in the production of mounting systems help to reduce the overall cost of solar energy projects.

Will Climatic Changes Impact the Solar PV Mounting Systems Market?

Solar PV mounting systems have to withstand a wide range of environmental and climatic conditions, including strong winds, heavy snow loads, and extreme temperatures. Thus, designing and engineering solutions that can withstand these circumstances without sacrificing efficiency or safety is an important challenge for the Solar PV Mounting Systems Market.

The supply chain and availability of important components also pose substantial challenges to the Solar PV Mounting Systems Market. As the solar industry is global, interruptions in one region of the world have repercussions for projects all over the world, resulting in delays and higher costs. This includes aluminum and steel shortages, which are critical materials for many mounting systems, as well as logistical and shipping issues.

Category-Wise Acumens

How will Portability and Scalability of Ground-Mounted Segment Help the market?

According to analysis, the ground-mounted segment is estimated to hold the largest market share in the product segment during the forecast period. Ground-mounted solar systems are more scalable and flexible in terms of installation size and placement. They are not limited by a roof’s size, shape, or direction, allowing for optimal solar panel arrangement to maximize sun exposure and energy output. The scalability of ground-mounted systems are especially appealing for large-scale commercial and utility-scale solar projects where maximizing energy output is critical.

Ground-mounted systems can be more easily orientated and slanted at the appropriate angle to gather sunlight, increasing efficiency greatly when compared to rooftop systems that are limited by the existing roof structure. Furthermore, ground-mounted systems are more accessible for maintenance, cleaning, and repair, which can assist in maintaining high levels of efficiency and extend the lifespan of the solar panels.

Furthermore, large-scale ground-mounted solar farms become economically feasible in areas where land is relatively cheap and plentiful. These installations have the potential to transform underutilized or non-arable land into productive energy assets. Furthermore, ground-mounted systems can be integrated into land use policies that promote biodiversity and agricultural activities, such as solar grazing, which involves sheep grazing between solar panels, and mixing energy generation with agricultural land usage.

Which Variables Support the Broad Acceptance in the Utility Application Segment?

The utility segment is estimated to dominate the Solar PV Mounting Systems Market during the forecast period. Utility-scale solar projects are far larger than residential or commercial installations, occupying massive expanses of land and containing thousands of solar panels. Because of their sheer size, these projects account for a significant fraction of the total installed solar PV capacity. Larger projects require more mounting systems, increasing the utility segment’s market share.

Many governments across the world provide incentives for renewable energy generation, particularly large-scale projects that can help meet national renewable energy targets. These incentives frequently include tax breaks, feed-in tariffs, and subsidies, which make utility-scale solar projects more financially viable and appealing to investors. Policy assistance encourages the building of utility-scale solar farms, driving increased demand for mounting solutions in this segment of the market.

Furthermore, utility-scale installations benefit from economies of scale, which can dramatically lower the cost per watt of solar energy produced as compared to smaller-scale residential or commercial installations. The cost savings extend to the procurement and installation of mounting systems, where bulk purchasing and faster installation processes lower overall costs. Lower costs, along with high energy output from utility-scale projects, make this segment especially prominent in the solar PV mounting system market.

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Country/Region-wise Acumens

Will Environmental Concerns Shape the Market in Asia Pacific?

According to analyst, Asia Pacific is estimated to dominate the Solar PV Mounting Systems Market during the forecast period. Countries in the Asia Pacific region, particularly China and India, have been quickly growing their solar energy capacities as part of their national energy policies. This expansion is motivated by the desire to improve energy security, reduce reliance on imported fossil fuels, and fulfil climate change targets. The region’s vigorous push into solar energy is resulting in a major surge in demand for solar PV mounting systems.

Governments in the Asia-Pacific region have introduced a variety of policies and incentives to promote solar energy. These include feed-in tariffs, subsidies, tax breaks, and renewable energy targets. Such supporting regulations have boosted investment in the solar sector, increasing the region’s Solar PV Mounting Systems Market.

Furthermore, the emerging economies in Asia Pacific, particularly China, is a global hub for the production of solar PV components such as panels, inverters, and mounting systems. The region’s strong manufacturing base, combined with well-established supply chains, makes it cost-effective to manufacture and deploy solar PV systems. This advantage is bolstered by the availability of raw materials and relatively low labour costs in various Asia Pacific countries, resulting in competitive pricing for solar installations.

How will Stringent Environmental Regulations Enhance Demand for Solar PV Mounting Systems in North America?

In North America, particularly in the United States and Canada, the federal, state, and provincial governments have established a variety of policies to encourage the use of renewable energy, including solar power. These policies include tax breaks (such as the Investment Tax Credit in the United States), renewable portfolio standards (RPS), net metering, and other incentives that directly benefit solar plants. Such supportive regulations aim to reduce greenhouse gas emissions and promote sustainable energy sources, which increases demand for solar installations and, as a result, mounting systems.

Furthermore, solar photovoltaic (PV) systems are becoming increasingly affordable thanks to technological breakthroughs and manufacturing economies of scale. As solar energy becomes more economically competitive with traditional fossil fuel sources, the incentive for residential, commercial, and utility-scale solar installations increases. This economic competitiveness has resulted in greater investment in solar projects across North America, driving up demand for solar PV mounting systems as part of the larger infrastructure necessary for these installations.

Competitive Landscape

The competitive landscape of the Solar PV Mounting Systems Market is characterized by a varied range of manufacturers vying for market share. In addition, regulatory frameworks, political incentives, and environmental concerns all play important roles in determining market dynamics.

Some of the prominent players operating in the Solar PV Mounting Systems Market include:

Schletter Group, Esdec, Unirac, Clenergy, Akcome Solar, JZNEE Solar, K2 Systems, DPW Solar, Mounting Systems, RBI Solar, PV Racking, Versolsolar, Meishan Alu, Hilti, Carport Central, Solare Datensysteme, SnapNrack, IBC Solar AG, Renusol GmbH, SunEarth.

Latest Developments

• In November 2023, Antaisolar obtained a supply deal with L&T for a 35.757 MWp solar tracker project in India. This shows the company’s commitment to large-scale solar projects.
• In October 2023, Array Technologies announced the development of its production plant in Mexicali, Mexico, to satisfy the rising demand for solar tracker systems in the Americas. This reflects the company’s commitment to improving manufacturing capacity.
• In September 2023, Nextracker presented its next-generation solar tracker, NX FLEX, at RE+, North America’s largest renewable energy exhibition. This demonstrates the company’s continued advancement in solar tracking technology.

Report Scope

Solar PV Mounting Systems Market, By Category

Product:

• Rooftop Mounted
• Ground Mounted

Technology:

• Fixed
• Tracking

Application:

• Residential
• Commercial
• Industrial
• Utility

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

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